It was inmy LLC name but I personally guaranteed it foolishly using my house as collateral.

This will help you to determine the amount of loan you need and then the amount of collateral you have to have. 

I was so skeptical about paying upfront fee's and should of known that a non collateral loan with a 4.2% on 115k was too good to be true.

Don't ever put your other personal asset as collateral for any Kinda of loan.

You want to be able to cross collateralize your loans. 

We look for primary and secondary exit strategies for the borrower before the tertiary exit strategy of liquidating the collateral.

It would look like a single collateralized loan to the property, where each investor gets a prorated return (and right to the collateral) and still receives a 1099 as a lender.I know I’ll need to work with a lawyer to set up, but I’d appreciate any help to point me in the right direction.

If you are buying it as an investment property, you are buying it at a much higher rate than a traditional owner-occupied loan so you must be in a primary residence now and are just planning a just-in-case scenario.At first, I thought this was a no-brainer answer as if you can do whatever you want, but those investment loans are banking on the income projected as part of the collateral for the loan so it's a good question.A seasoned lender or someone who has had to move back into one of their properties will get you the best answer.

I appreciate this we were just looking at 7a as an option for another business that isn't real estate for yacht charters in miami and I think we are going to get a collateralized loan more like real estate and not a 7a. ours is much smaller probably 250k but the paperwork and rate hikes etc I think make it worse so I really appreciate your response here.

Is it feasible to obtain a loan or a good old boy agreement where a lender offers 100% financing for both the purchase price and construction costs at hard money rates, secured by a second position on the borrower's o...